Tila required disclosures - Study guides, Class notes & Summaries

NMLS PRACTICE TEST EXAM PROFIENCY HARD QUESTIONS 2022- 2024 / NATIONWIDE MORTGAGE LICENSING SYSTEM PRACTICE TEST HARD QUESTIONS WITH CORRECT ANSWERS|53% AND ABOVE PASSRATE GUARANTEE MUST NOT MISS  FEDERAL MORTGAGE RELATED LAW  UNIFORM STATE CONTENT  GENERAL MORTGAGE LAW  MORTGAGE LOAN ORIGINATION  ETHICS An annual escrow analysis is used to do which of the following? A. Ensure the loan is properly amortized B. Prevent escrow overages C. Reduce burden on the servi...

Post licensing 301 NC study Questions And Answers When must a seller's agent or subagent initially disclose agency status to a buyer? - ANS before buyer and buyer's agent discuss motivation and financial information seller's sub agent - ANS no written or oral buyer agency OLD CAR - ANS obedience loyalty disclosure confidentiality accounting reasonable care In dual agency, the agent's duties are _____ to being a facilitator - ANS reduced What statement would requi...

Real Estate State Exam for Ohio (2022-2023) Already Passed Fiscal Policy Treasury Department Monetary Policy Federal Reserve Bond Truth In Lending Act To provide standard disclosure procedures that all lenders must follow. Required so consumers will know exactly what they are paying for credit so they can compare Annual Percentage Rate (APR) The relationship between the cost of borrowing money and the total amount financed, represented by a percentage Usury Lending Law Charging an interest r...

Fiscal Policy - ANSWER-Treasury Department Monetary Policy - ANSWER-Federal Reserve Bond Truth In Lending Act - ANSWER-To provide standard disclosure procedures that all lenders must follow. Required so consumers will know exactly what they are paying for credit so they can compare Annual Percentage Rate (APR) - ANSWER-The relationship between the cost of borrowing money and the total amount financed, represented by a percentage Usury Lending Law - ANSWER-Charging an interest rate th...

NMLS SAFE EXAM QUESTIONS WITH CORRECT SOLUTIONS Primary Mortgage Market - ANS Where credit institutions originate loans C. The maximum the rate can increase over the life of the loan - ANS When an ARM has rate caps of 5/2/6, the 6 refers to what? A. The maximum rate increase at the initial adjustment B. The start rate for the loan C. The maximum the rate can increase over the life of the loan D. The rate maximum the rate can decrease over the life of the loan B. The borrower qua...

Post Licensing 301 NC Study Exam Questions And Answers 100% Verified When must a seller's agent or subagent initially disclose agency status to a buyer? - answerbefore buyer and buyer's agent discuss motivation and financial information seller's subagent - answerno written or oral buyer agency OLDCAR - answerobedience loyalty disclosure confidentiality accounting reasonable care In dual agency, the agent's duties are _____ to being a facilitator - answerreduced What statement wou...

NMLS Final Exam Questions With Answers Latest Updated 2023-2024 | 100% Verified. TILA disclosure must be given to the applicant within how many days after receiving the signed loan application for a reverse mortgage - ANSWER 3 business days Truth in lending disclosure must be delivered within how many business days prior to closing a reverse mortgage - ANSWER 7 days The APR must be finalized at least how many days before closing? - ANSWER 3 days A company with which a consumer has an establ...

NMLS QUESTIONS WITH WELL EXPLAINED SOLUTIONS Acceleration Clause - ANS Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) Alienation Clause (Due on Sale Clause) - ANS Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) Appraiser Independence Requirements replaced HVCC - ANS home valuation code of conduct Due on Demand Clause - ANS (Considered a predatory practice) The ...

Florida Real Estate State Exam Prep Rated A Joint Ventures is a temporary form of business arrangement often encountered in real estate business. Trade Names is a business name other than the legal name of the person doing business. The letters T/A are used to indicate "trading as." Chapter 120, F.S. Administrative Procedures Act Chapter 455, F.S. Regulation of Professional and Occupations Chapter 28, Sections 101-110 Division of Administrative Hearings (DOAH Rules), Florida Ad...

The SAFE Act Ch 6 Exam Questions With 100% Correct Answers Nontraditional Mortgage Product - answerDefined by the SAFE Act as any mortgage product other than a 30-year fixed rate mortgage; as defined by the Interagency Guidance on Nontraditional Mortgage Product Risk, allows a borrower to defer principal and, sometimes, interest. Registered Loan Originator - answerA natural person who is employed by a depository institution that is regulated by a federal banking agency and is exempt from ...